KUALA LUMPUR | TA3 & TA4 @ KLCC | 60 fl | 35 fl | Pro

[pedang]

Final Rendering by Jesmine ;)


http://img03.picoodle.com/img/img03/8/6/4/f_TA3andTA4m_3323842.jpg

site map
http://img524.imageshack.us/img524/2896/taidamantt2.jpg



TA Ent plans RM2b property project near Twin Towers

By Chong Jin Hun
jinhun@nstp.com.my


TA ENTERPRISE Bhd's (TAE) fast-growing property business will soon include an estimated RM2 billion mixed development within walking distance of the iconic Petronas Twin Towers.



TAE, which also has a stockbroking business, plans to build a luxury hotel, shopping complex and residential units on the company-owned 0.9ha site along Jalan P Ramlee.

Construction, which is expected to take four years, will start in 2008. It will be TAE's second property project within the KLCC area, after its RM294 milllion "Idaman Residence" condominiums on a 0.6ha tract nearby.

"I cannot sell anything less than RM1,500 a sq ft because of the location," TAE executive chairman Datin Alicia Tiah told Business Times in Kuala Lumpur yesterday.

"We have been approached many times by big names (in the property sector) for joint ventures. I am not saying I am not considering but we have not really made up our minds yet," Tiah added.

Other real estate projects by TAE include the estimated RM450 million "Damansara Idaman" in Selangor and the RM800 million "Seri Suria" in Kuala Lumpur.

TAE, initially renowned as a stockbroking firm, has jumped on the real estate bandwagon to reduce its dependence on financial services operations.

As such, earning recurrent income from its properties will be a key strategy going forward to safeguard TAE's income stream.

"But stockbroking is just as important, if not more important, at this point in time," Tiah said.

In the nine months to October 2006, property investment and development already constituted 47 per cent of TAE's revenue of RM243.8 million.

Real estate income is expected to account for up to 50 per cent of revenue within two years, helped by TAE's upcoming property launches.

Citing examples, Tiah said the third phase of its "Damansara Idaman" is due for launch next week, adding that TAE has some 180ha of undeveloped land to date.

It is no secret that TAE intends to build properties in China and India, but Tiah declined to elaborate on the company's potential foreign ventures.

TAE has established a China-based unit, TA Ace Fit Investment Management (Kunming) Co Ltd, to undertake investment and hotel management activities there, according to TAE's filings to Bursa Malaysia.

[patchay]

I LOVE it !!! BUILD BUILD BUILD!!!

[paw25694]

this is so cool..
:drool:

[TYW]

this is gotta be the most interesting building in Malaysia if built!!

kinda reminds me of Il Curvo :D

[haze]

great design!!.. great location!! can't wait :)

[BMXican]

the skyscraper designs get crazier every day. nice one :cheers:

[forrestcat]

I personally dun like that curvy building.

[MasonicStage™]

wooow...i'm i love with it:banana: :lol: ! fuc***n great design :okay:

[nazrey]

Location

http://img26.picoodle.com/img/img26/8/6/11/f_8545m_81467ab.jpg

[nazrey]

http://img38.picoodle.com/img/img38/8/6/16/f_51843706303m_b9e1957.jpg

[nazrey]

http://img35.picoodle.com/img/img35/8/6/19/f_001m_22ba015.jpg

[pedang]

^^ well done nazrey :)
but, where is kembar avenue k ?

[nazrey]

I give you a Glomac Tower (http://www.skyscrapercity.com/showthread.php?t=460306&page=3) for a bonus :)

http://img37.picoodle.com/img/img37/8/6/21/f_10405m_839d853.jpg

[giovani kun]

build them all :)

[TYW]

wow! didn't know nazrey have such good photoshop skills!

you should have done more of that!

[SEED]

^^ pretty.. :cool: very pretty!

[pedang]

pls add oneKL Nazrey. :D

[nazrey]

FINE :cheers: !!!
sine One KL (http://www.skyscrapercity.com/showthread.php?t=304005&page=7) is just so short.

http://img40.picoodle.com/img/img40/8/6/21/f_4254m_9dfdc5c.jpg

[nazrey]

We still can wait the last stretegic of Lot D (In front of Mandarin Oriental Hotel)...

[pedang]

^^ oneKL with 36 flr..patut setinggi n sebesar the marc naz :)

[great184]

They are really filling up the Petronas area with interesting buildings! This will be the most recognized supporting character in the skyline

[Sentient Seas]

Awesome design, it looks great with the rest of the skyline.

[Okan]

http://img37.picoodle.com/img/img37/8/6/21/f_10405m_839d853.jpg


:cheers:

[haze]

rebirth of KLCC :banana:
hopefuly it will become one of the best cluster buildings in the world.

[johnsonooi]

nazrey, can you put these buildings to KL skylines? it would be nice if these buildings are included in KL skylines, where this will give us a new visual impact of future KL:)

[nazrey]

^^ oneKL with 36 flr..patut setinggi n sebesar the marc naz :)

FINE :cheers: !!!
sine One KL (http://www.skyscrapercity.com/showthread.php?t=304005&page=7) is just so short.

http://img40.picoodle.com/img/img40/8/6/21/f_4254m_9dfdc5c.jpg

OKay OK..!

[haze]

wowoo.. alot of improvement there..btw, can't wait for the last startegic site on Lot D(better 50flr) n ex-bok house(rumous 60flr).

[kasy boy]

Wow very nice

[Greg]

Great job Nazrey:okay:

[World 2 World]

Bravo Nazrey:cheers: :banana: .:applause: , Naz, saya rasa kamu kena tukar K residence 1 lebih tinggi dari Maxis.

[glitz_boy]

got the plan of KLCC development? like the one nazrey post for KL Sentral?

[forrestcat]

Woohoo..my heart skipped seeing that rendering of future KL. :)

[pedang]

the site

http://img26.picoodle.com/img/img26/8/6/11/f_8545m_81467ab.jpg

[KING BOB]

Yeah, too bad google earth didn't update the pictures for KL :rant:

[city_thing]

Awesome, brilliant architecture!

Love it.

[nazrey]

http://img26.picoodle.com/img/img26/9/9/20/f_11m_29311a5.jpg

[nazrey]

http://img01.picoodle.com/img/img01/9/9/27/f_48455587389m_0a59e9c.jpg

[Leeigh]

great angle of KLCC!

[KING BOB]

hhehe, menara telekom is so far away :D. Where would Menera YTL be???

[nazrey]

TA Enterprise rated ‘buy’
17-12-2007: THEEDGEDAILY (http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_e6bea08a-cb73c03a-6d999a00-e6238d4e)


TA Enterprise Bhd has been rated a “buy” by Citi Investment Research, with a target price of RM2.38 as it is underpinned by the company’s strong earnings growth prospects and the start of a prime property up-cycle.

“Our target price of RM2.38 implies a fiscal year 2009 (FY2009) price-to-earnings ratio (PER) of 15 times,” it said in a research note on Dec 13. It said that TA Enterprise had unique exposure to both the stockbroking and prime property markets in the country.

The company is expected to post an earnings growth of 45% over the next two years, while its prime property could see an earnings surprise on the upside, given the industry is in the early stages of an up-cycle.

However, the research house cautioned that TA Enterprise earnings could be affected by lower trading volume and external factors such as slow global markets and diminished investor sentiment towards Malaysian equities.

On a quarter on quarter basis, the stockbroking firm’s performance improved due to the recovery of financial receivables or writeback of past provisions of more than RM20 million and a 32% rise in property development profits, TA Enterprise said.

It said the increase in the property development contribution was due to higher recognition on profits on progress of Damansara Idaman Phase 3, Idaman Villas and Idaman Residence.

“Take-up rates for the group’s current projects have been good (average 70%) and given choice locations. We expect these projects to be fully sold by next year,” the research house added.

Nonetheless, it said the average daily volume for TA Enterprise’s stockbroking division for the third quarter ended Oct 31, 2007 (3Q08) fell to RM1.9 billion from RM2.3 billion in (2Q08) even though it more than doubled on year-on-year (YoY) basis.

“We estimate TA Enterprise’s market share improved to 5% for the quarter (2Q2008: 4.5%) due to higher retail participation in the overall market,” it said.

Stockbroking and related activities accounted for 66% of TA Enterprise’s earnings before income tax, according to Citi Research.

It said stock market volumes had also dwindled significantly — now averaging RM1.6 billion per day versus RM2.2 billion per day for the year.

“Nevertheless, we expect two major project launches next year — Bukit Bintang in mid-2008 and TA3 in KLCC by end-2008 — which we believe will drive better stock performance next year,” it said.

The research house said at RM1.27, TA Enterprise was currently trading below its book value of RM1.49 per share.

[nazrey]

Developer : TA Properties Sdn Bhd.
Old rendering

Final Rendering by Jesmine ;)

http://img03.picoodle.com/img/img03/8/6/4/f_TA3andTA4m_3323842.jpg

New rendering

http://img.photobucket.com/albums/v730/Greg8000/180435_FDdzocauybS2csCIQj2xLfSBF.jpg

[nazrey]

http://img38.picoodle.com/img/img38/8/6/16/f_51843706303m_b9e1957.jpg

TA property unit has prime land in KL

TA Properties Sdn Bhd is on an aggressive drive to build up its presence in a wider range of properties – from medium priced residences to niche lifestyle residential and commercial developments.

With its suite of interesting property projects and strategic landbank on one of the hottest property spots right across the KLCC Twin Towers, the company is on course to become a premier property player.

The company’s parent TA Enterprise Bhd owns 2.25 acres of prime land – directly facing the Kuala Lumpur Twin Towers, a much sought-after address. This makes it one of the largest landlords in the vicinity (other than Petronas).

The land parcels were acquired between 1991 and 2004 for an average cost of RM523 per sq ft.

TA Enterprise executive chairman Datin Alicia Tiah knows the land is sitting on a goldmine and plans to develop it into another world-class icon that befits its prestigious location...

[nazrey]

http://www.taproperties.com.my/images/projects/future/_klccfuture.jpg

Mixed Development @ KLCC

This proposed 2.3 arces of prime Freehold commercial development is strategically situated next to the Petronas Twin Towers, KL Convention Centre and the famed Dewan Philharmonic Petronas. This development consist of 2 iconic towers with a proposed 6-star hotel, luxury residences and a high-end retail podium.-TA Properties (http://www.taproperties.com.my/futuredev_klcc.htm)

[pedang]

by Ethaniel83

http://img186.imageshack.us/img186/4131/0404081258if0.jpg (http://imageshack.us)
http://img186.imageshack.us/img186/4719/0404081257nn3.jpg (http://imageshack.us)

[nazrey]

Night/Day



http://img297.imageshack.us/img297/3627/featured180435qmgv71qkqxh5.jpg

[paw25694]

old design was better imo :(

[nazrey]

TA3 & TA4 @ KLCC

http://img225.imageshack.us/img225/2783/ta3vm6.jpg

http://img301.imageshack.us/img301/3820/ta4zo0.jpg

[nazrey]

TA aims to boost hotel division
By Chong Jin Hun
28-07-2008: THEEDGEDAILY

KUALA LUMPUR: TA Enterprise Bhd’s hotel business is a growth story. The firm, also a financial services and property development firm, plans to build or acquire more hotels to establish a house-branded global hotel chain. The hotels may be retained for recurring income or sold for profits.

At present, TA’s sole hospitality asset is the five-star Radisson Plaza Hotel Sydney in Australia. In the pipeline are two hotels on company-owned freehold prime land in Kuala Lumpur.

One will be built within a 1.23ha site in Jalan Bukit Bintang, and Jalan Imbi, while the other will sit on a 0.92ha tract within the Kuala Lumpur City Centre (KLCC) where the iconic Petronas Twin Towers are located.

TA managing director and chief executive officer Datin Alicia Tiah said: “Our corporate plan is to go into the hospitality business. I won’t exclude the possibility of acquiring hotels but I rather build.”

Both upcoming hotels constitute a part of larger real estate projects by TA. The unit in Jalan Bukit Bintang and Jalan Imbi will occupy one of the three high-rise towers to be built under the firm’s RM1.39 billion “Nova Square” mixed development which includes serviced apartments and condominiums.

Meanwhile, the hotel at the KLCC will occupy one of the two high-rise properties under an estimated RM1.4 billion undertaking. “This project consists of two towers currently proposed at 55 and 40 storeys respectively. We envision a six-star hotel and serviced apartments with retail, and food and beverage components,” Tiah said.

Financing options to expand TA’s hospitality business is already in place. The firm may sell its residential towers en bloc to raise funds to finance the construction of the hotels, or set up a real estate investment trust (REIT) to unlock the value of its properties.

Owning a house-branded global hotel chain offers TA a platform to expand its property development business abroad as well. The company, which intends to double its overseas revenue contribution to 50% of group turnover in as early as three years, will leverage on its hospitality brand to spur its foreign real estate operations.

TA already owns real estate assets in Australia and Canada. The company plans to venture into high growth markets like China and Vietnam, and at the same time, go bargain-hunting for properties in the US following the nation’s subprime loan crisis.

Potential overseas listings for TA’s real estate division is no secret. TA had indicated to Bursa Malaysia that it might consider floating its property unit, possibly, on the Singapore or Hong Kong bourses.

TA’s earnings in FY09’s first quarter ended April 2008 dropped significantly. Net profit was halved to RM28.74 million from RM57.81 million a year earlier while revenue was down 13.1% to RM116.37 million from RM133.85 million.

Outlook for FY09 is, however, deemed optimistic. This will be underpinned by TA’s unbilled property sales of RM234.7 million from its Klang Valley projects — the Damansara Idaman, Idaman Villas, and Idaman Residence which will be recognised in the company’s books during the year.

In FY08, stockbroking and financial services made up 47.6% of TA’s revenue of RM546.27 million.

[Durbsboi]

Cant wait to go back here, prob in 5 years time to see how much has changed

[Harkeb]

wicked

[nazrey]

Alicia Tiah’s property checklist
Saturday September 6, 2008 TheStar

TA is the initials for the two main shareholders of the group, Tony and Alicia. TA Enterprise started out as a stockbroking company. In 2002, Datin Alicia Tiah, wife of the group’s single largest shareholder and founder-owner Datuk Tony Tiah, went into property development. Tony has a 33.6% stake in the company. Both of them manage the group today. They are also grooming their son, Joo Kim, who joined them three months ago.

Excited with her success and eye for property development, Alicia is today going into property management.

“I considered the world’s rich. Other than Bill Gates, they all made their money from land. They bought land in the right place and at the right time,” she enthuses.

The group’s landbank is concentrated in prime locations in the Klang Valley while the prime investment assets in its stable are an AAA-rated office building in downtown Vancouver, the Radisson Plaza Hotel in Sydney, and the Menara TA, where it is headquartered in Jalan P. Ramlee, Kuala Lumpur.

Alicia took the plunge to go into property development in 2002. Her maiden project was 62 acres in Petaling Jaya, bordering Mah Sing Group Bhd’s Damansara Lagenda and a stone’s throw away from Tropicana Golf and Country Resort.

“When we bought the land, there was no access. We bought it anyway because it was very cheap and we solved the access problem,” she recalls.

At that time, as with today, security became an issue with house buyers, particularly with the rich. Seeing the signs of the times, Tiah put in the guards and gates for this high-end bungalow development.

The company will launch the last phase comprising 27 units of freehold bungalows in November this year for between RM4.2mil and RM5.5mil each. It will be offering four designs. The first three phases of the freehold gated and guarded development comprises 109 units of bungalows.

“The houses in the previous phases are already exchanging hands for around RM4mil. So I have to price my new ones slightly higher. Besides, there are only 27 units,” says the savvy businesswoman.

In 2005, she unveiled Idaman Villas comprising 54 units of semi-detached opposite Damansara Idaman. The current selling price is RM1.87mil and RM2.9mil.

With the hype and interest around the KLCC area, Tiah was not to be outdone. TA launched 34-storey condominium, also in 2005. Known as Idaman Residence, the project is 92% sold. There is currently a balance of 19 units with a selling price of RM1,200 per sq ft.

The company has unbilled sales from the three above projects of about RM22mil. Overall, it has total unbilled sales of RM235mil.

The group will be kept busy with a mixed commercial development opposite KLCC in years to come. Tentatively known as TA3 and TA4, the 2.3 acres of freehold land will be the site of two tower blocks, a hotel and service apartment block and a residential block.

The estimated gross development value (GDV) of this project is RM1.5bil. Tiah has plans for an underground walkway to link it to the Petronas Twin Towers. The market value for that piece of land is RM218mil.

The company has applied to the local authorities for a higher plot ratio.

“We will not be able to start so soon as we need to focus on Nova Square. Besides, there is currently several thousands of condominium units around KLCC. Until I am very confident that the project will be able to take off, we will wait. The current oversupply has to be absorbed first.”

Nova Square will be located on 3.3 acres at the corner of Jalan Bukit Bintang and Jalan Imbi in Kuala Lumpur. This, too, will be a mixed development comprising a hotel, service apartments, retail and eateries and an office block. There will be a total of three blocks and five levels of podium.

“We will build, manage, run and operate our five-star hotel brand here,” she says. Foundation works will begin this year,” says Alicia. The GDV is RM1.3bil. The land was bought two years ago.

“There has been interest shown for one of our blocks in Nova Square. It is a matter of price but I would like to keep the hotel as a recurring source of income and sell the service apartment block, or inject it into a hotel Reit (real estate investment trust) later on,” she says.

The company also has 48.5 acres freehold land in Bandar Sri Damansara, with a market value of RM335mil. Known as Sri Suria, it is planning for retail commercial component, service apartments and a mall on that site. The company will invest RM20mil to build a ramp to that development.

That project will serve the community around Bandar Sri Damansara, Sungai Buloh, Bukit Rahman Putra, Sierramas, Desa ParkCity and Bandar Menjalara.

“People want convenience today. They want to shop, live and work around the same place. The same applies to Nova Square. So both projects will have different components integrated seamlessly.”

Last year, the group acquired several pieces of land in the city. These include 0.8 acre in Ceylon Hill, KL (market value: RM23.7mil) and another similar sized piece in U-Thant area (RM20.7mil). She is planning for a high-end low density, low-rise development in U-Thant.

The company also bought 3.2 acres freehold land in Ukay Heights, Ampang (RM12.4mil), She proposes to build low-rise, low density high-end homes there.

For the U-Thant project, she plans to keep some of the units as a source of recurring income. Other land assets include 7.34 acres in Bukit Kiara (RM30mil), 2.8 acres in Cheras (RM6.6mil), 23 acres of Bukit Beruntung (RM10.9mil) and 96 acres in Kluang (RM18.7mil).

[nazrey]

http://img.photobucket.com/albums/v730/Greg8000/180435_FDdzocauybS2csCIQj2xLfSBF.jpg

From http://www.taproperties.com.my
Proposed Mixed Development @ KLCC

This proposed 2.3 arces of prime Freehold commercial development is strategically situated next to the Petronas Twin Towers, KL Convention Centre and the famed Dewan Philharmonic Petronas. This development consists of 2 iconic towers with a proposed 6-star hotel, luxury residences and a high-end retail podium.

TA Global to list in October
Saturday May 16, 2009
By FINTAN NG

KUALA LUMPUR: TA Global Bhd, the property arm of stockbroker-cum-developer TA Enterprise Bhd, is targeted to list by early October after having postponed the listing twice.

TA Enterprise managing director and chief executive officer Datin Alicia Tiah said at a media briefing yesterday that this would be done via an “initial public offering by introduction”.

Many of the new shares in TA Global will be given to shareholders of TA Enterprise as a dividend-in-specie or via placement.

She said due to the current market conditions, the company had decided to seek other ways of bringing its property arm public, hence the further revision to the listing scheme.

Tiah said TA Enterprise 1999/2009 warrant holders who exercised their warrants by June 24 were not only entitled to TA Enterprise shares but would also be entitled to TA Global shares when the proposed further revision was approved by the Securities Commission in a month’s time.

In addition, they would be entitled to the irredeemable convertible preference shares (ICPS) to be issued by TA Global that could be exchanged for ordinary shares in three years from the date of listing at no cost.

Tiah said the listing exercise would see TA Enterprise still a major shareholder of TA Global even assuming that the ICPS shares were fully converted.

She said TA Global, which would incorporate all the property units now under TA Enterprise, would have assets worth RM2.40bil located in Malaysia, Australia and Canada.

“We’re one of the larger landowners in the vicinity of KLCC at the moment,” Tiah added.

The company has a 2.3-acre freehold parcel located next to its corporate headquarters, Menara TA One on Jalan P. Ramlee, besides having developed Idaman Residence condominium on a neighbouring plot.

Besides landbank in the country’s capital, TA Global would also own a number of hotel and office properties abroad.

[vano]

niceee

[nazrey]

From Malaysian forum

http://www.picamatic.com/show/2009/06/25/05/59/4124317_800x386.JPG

[nazri]

The site:

http://farm3.static.flickr.com/2447/3706154757_de250055ec_o.jpg

[nazri]

TA Ent to launch RM6b property projects
Published: 2009/07/31

http://img193.imageshack.us/img193/4342/74837320.jpg

TA Enterprise Bhd, which is confident of the property market picking up within the next two years, has commercial and residential projects with a total gross development value (GDV) of about RM6 billion to be launched from next year onwards.

The biggest is a mixed commercial development in Sri Damansara that will spread over an 18.2-hectare site, with the first launch consisting of shop office and small office-home office lots set in the first quarter of 2010.

"This development will have a GDV of RM3 billion over seven years to 10 years," said managing director and chief executive officer Datin Tan Kuay Fong after the group's annual general meeting today.

The next is a 1.32-hectare freehold commercial development named "Nova Square" which will include a five-star hotel tower, a block of luxury residences and an office tower and lifestyle podium, set for launch in 2012 with a GDV of RM1.3 billion.

Others include a mixed commercial development opposite KLCC to be launched in 2011 with GDV of RM1.2 billion, residential development at Jalan U-Thant with GDV of RM110 million to be launched in 2010, and condominium development at Dutamas with GDV of RM300 million to be launched also in 2010.

Going forward, Tan hopes that TA Enterprise's property division will be able to contribute equally to total profit as it is turning into a reputable player in the high-end property market like the group's financial services, which included stockbroking.

Last year, the financial services was the major contributor to the group's profit.

"We believe that the worst is over. The stock market is also better than last year," she said, adding that the group was also confident of recovering almost all of the RM51 million provisions it had made.

The group reported a pre-tax profit of RM135.5 million, which was 53.1 per cent lower than RM286.9 million for the previous financial year.

TA Enterprise, which has net cash of over RM400 million, is keen to build its hotel portfolio by buying or building on an average of one a year, Tan said.

It recently acquired The Westin Melbourne for RM374.7 million and the hotel has started to contribute positively to the group, she said.

During the year, the group also acquired another hotel, Coast Whistler, for RM107 million and it is now rebranded as Aava Whistler, which is scheduled to reopen on November 30, 2009, in time for the 2010 Winter Olympics.

It recently proposed to purchase the entire issued shares of Mauritius Company Quayside Gem Ltd, which owns Singapore's Merchant Quay Pte Ltd, the owner of the four-star hotel Swissotel Merchant Court Singapore, Tan said.

"Currently, due diligence is being conducted and on August 25, we will be signing the sales and purchase agreement," she said.
TA Enterprise is always on the lookout for more opportunities, according to Tan.

"Great cities like Hong Kong and London are good locations," she said.

On the listing of its property unit, TA Global Bhd, Tan said it is awaiting approval from the Securities Commission.

"Once that is done, we should be able to list TA Global," she said, adding that the group has enough landbank to be developed over the next 10 years. -- Bernama

[nazri]

TAE's growth drivers
By Sharen Kaur Published: 2009/08/01

http://www.btimes.com.my/articles/TAE31/pix_topright

TA Enterprise has commercial and residential projects with a total gross development value of about RM6 billion to be launched from now to 2012

TA Enterprise Bhd (TAE) (4898) said its property business will drive the group's growth for the next few years, with a portfolio possibly worth RM6 billion comprising five new residential and commercial projects in the Klang Valley targeted for launch between now and 2012.

The property and financial services firm, which has over 400ha of undeveloped land, will also buy or build one hotel a year to grow its hotel portfolio, possibly under the Aava brand, managing director and chief executive officer Datin Alicia Tiah said.

"While we are focused on the new (property) launches, our aim is to build our hotel portfolio. So, if any irresistible deals come by, we will buy. Now is the best time to buy assets as they are cheap and the exchange rates are low," she said after the company's annual general meeting and extraordinary general meeting in Kuala Lumpur yesterday.

TAE is looking for new assets to buy in Malaysia, Canada and Australia.
It is also eyeing new markets such as Hong Kong and London, and other cities close to financial centres.

Tiah said TAE has over RM400 million in its coffers to use for asset acquisition.

The group now runs Radisson Hotel (Sydney), Aava Whistler hotel (Canada) and Westin Hotel (Melbourne). It paid almost RM700 million for the properties.

It is buying Swissotel Merchant Court Singapore, owned by Singapore's Merchant Quay Pte Ltd. It is learnt that TAE will pay more than RM250 million for the hotel deal, which will conclude by August 25.

TAE is also building a six-star and a five-star hotel, located directly opposite the Petronas Twin Towers and at the Jalan Bukit Bintang/Jalan Imbi junction in Kuala Lumpur, respectively. They form part of TAE's new projects.

"I believe the worst (of the economic crisis) is over. You can see some green shoots, even in the US.

"We hope that by the time we launch our new projects, the market would have recovered. We will undertake piling works first before launching to minimise risks," Tiah said.

TAE expects to do better this year, thanks to housing sales at its ongoing projects, and the acquisition of new investment assets which have contributed immediately to earnings, Tiah said.

Last year, TAE made a net profit of RM91.9 million on revenue of RM535.4 million.

"Our net profit fell by 59 per cent last year as we made heavy provisions. I am very confident to write back 80-100 per cent of these this year.

"The stock market performance will be better than last year. So this year, we also expect to do better as far as financial services are concerned," Tiah said.

[Chad]

I thought you are on the brig nazrey.

[nazri]

TA3/TA4

http://www.picamatic.com/show/2009/07/31/10/27/4660421_172x456.JPG

[rayo_nortino]

Gran foto esa!!

[nazrey]

TA Enterprise to launch projects worth RM2bil next year
Saturday August 1, 2009

http://img193.imageshack.us/img193/5530/76079741.jpg

KUALA LUMPUR: TA Enterprise Bhd plans to launch a few property projects with a total gross development value (GDV) of over RM2bil next year due to an improving real estate market, said managing director and chief executive officer Datin Alicia Tiah.

The projects include a boutique residential development at Jalan U-Thant with a GDV of RM110mil and a condominium development at Dutamas worth RM300mil in GDV.

Also in the offing was a long-term mixed commercial development in Sri Damansara with an estimated GDV of over RM3bil over seven to 10 years, she said.

“The worst is over and greenshoots are emerging in the US market. The economic activities are still good but there is a lack of confidence,” Tiah told a press conference after the company AGM yesterday.

The company plans to launch shop-offices and small home office units in the first quarter next year and a mixed commercial development project opposite the Petronas Twin Towers in 2011 and another mixed commercial development in Bukit Bintang in 2012.

Tiah said its property segment contributed about 75% to group profit in its financial year ended Jan 31 (FY09) with the remainder from financial services.

“We expect to have a (more) balanced portfolio in FY10, particularly when the market is maintaining growth momentum,” she said.

Tiah sees TA’s property segment, with more than 1,000 acres of undeveloped landbank, to continue driving the group’s growth at least for the next three years.

TA also aims to build or acquire a hotel every year, according to Tiah.

It currently has three hotels – Radisson Plaza in Sydney, The Westin Melbourne and the Aava Whistler in Canada.

The company recently proposed to buy Mauritius company Quayside Gem Ltd, which owns Merchant Quay Pte Ltd of Singapore.

Merchant Quay is the owner of the four-star hotel Swissotel Merchant Court Singapore.

On the outlook for FY10, Tiah said the company expected a better performance due to the improving business sentiment as well as good take-up rates for its properties.

The group’s net profit slumped 59% to RM92.3mil in FY09 mainly due to the lacklustre performance and thin trading volumes on Bursa Malaysia and high provisions totalling RM50.6mil for impairment loss on financial receivables and investments.

“We expect to write back 80% to 100% of our provisions in this financial year,” Tiah said.

TA currently has a net cash position of more than RM400mil and unbilled sales of RM61mil.

On plans to list its property arm, TA Global Bhd, Tiah said it would be done by early November.

[nazrey]

TA Enterprise plans to buy one hotel a year
Written by Loong Tse Min Friday, 31 July 2009 17:36

KUALA LUMPUR: Stockbroking and property development group TA Enterprise Bhd intends to continue its hotel-buying spree, expecting to acquire at least one hotel property a year over the next two to three years

TA Enterprise managing director and chief executive officer Datin Alicia Tiah said on July 31 the group also plans to build two hotels in Kuala Lumpur.

Having only completed the purchase of two overseas hotels - The Westin Melbourne in Australia and Coast Whistler in Canada - the company drew attention on Monday for announcing a proposal to acquire the four-star hotel Swissotel Merchant Court Singapore. Before December, TA's hotel portfolio consisted only one hotel, the Radisson Plaza in Sydney, Australia.

Speaking to reporters after the AGM and EGM, Tiah said the company would launch property development projects worth more than RM2 billion in the next calendar year.

The new projects will include the first phase of the mixed commercial development in Sri Damansara with gross development value (GDV) of more than RM3 billion; a boutique residential development at Jalan U-Thant with a GDV of RM110 million and a condominium at Dutamas with GDV of RM300 million.

TA's current total undeveloped land bank of 1,000 acres was expected to last the group for the next 10 years.

For the current financial year, Tiah expects the earnings contribution to be 50:50 from property development versus financial services including brokerage and lending.

For its financial year ended Jan 31, 2009 (FY09), its financial services income shrank to 25% of net profit versus 75% from property development.

In total, TA's group consolidated net profit for FY09 fell 59% to RM92.3 million with revenue remained largely unchanged, falling only 2% to RM535.4 million.

The broking division saw net operating profit shrink by 75% to RM39.2 million due to lackluster performance and thin trading volumes on Bursa Malaysia, which saw net brokerage and commission income dropping sharply.

TA's group's property development division posted a 144.4% increase in net operating profit to RM165 million, which was 4.2 times that of the stock broking division.

Stock broking earnings were expected to recover to post earnings on par with the property division this financial year, "if market momentum maintains like this," Tiah said.

The group's property division, TA Global Bhd is expected to go for listing by October or early-November this year.

Property projects slated for launch beyond 2010 were mixed commercial developments in Bukit Bintang with GDV of RM1.3 billion for 2012, a project opposite the Kuala Lumpur Convention Centre worth GDV of RM1.2 billion for 2011, and the other phases of the RM3bil development in Sri Damansara that should run for a period of seven to 10 years.
__________________

[Arkdriver]

this does not make sense, even it's less than a line you still want to post it! next time perhaps you would want to paste the whole novel here.

[nazrey]

this does not make sense, even it's less than a line you still want to post it! next time perhaps you would want to paste the whole novel here.

What's the problem with your senses! Next time...relax! :cheers:

[khosim]

What's the problem with your senses! Next time...relax! :cheers:

dun worry mate! it does makes senses!:banana::banana: keep posting

[nazrey]

TA Global lines up RM7b projects over next 2 years
By Sharen Kaur Published: 2009/10/31
http://www.btimes.com.my/Current_News/BTIMES/articles/TA30/Article/index_html

http://www.btimes.com.my/Current_News/BTIMES/articles/TA30/Article/Current_News/BTIMES/Images/btgraph10/TA-GLOBAL.jpg

TA Global Bhd, which will rank as the country's fifth biggest listed property group in terms of market value, has lined up around RM7 billion worth of property development projects locally, to be launched over the next two years.

Director Datin Alicia Tiah said three projects will be launched in the second half of next year. They are Dutamas in Mont' Kiara, U-Thant 28 in Ampang and Seri Suria, a mix development in Sri Damansara.

By 2011, the group plans to launch Nova Square at the junction of Jalan Bukit Bintang and Jalan Imbi, and two 50-storey residences near the Petronas Twin Towers, in Kuala Lumpur.

Nova Square features an office tower, a serviced apartment block, a five-star hotel carrying the Aava brand, and a podium for boutique shops.

Tiah said the development order has been approved for Nova Square and it will be submitting its building plans soon.

"We will take a year to lay the foundation. Construction would take another three years. We are confident of selling the property due to its location. We will, however, retain the hotel, a few apartments and the podium for recurring income," she added.

Tiah said she expects TA Global to maintain its profits in the current financial year ending January 31 2010 and in 2011. But revenue may dip due to fewer launches.

"We expect higher margins from our overseas investment properties, thanks to foreign exchange gain. Locally, we sold many high margin products and the profits would be recognised over the next few quarters," she said.

Last year, TA Global made a net profit of RM92.9 million on a revenue of RM441 million.

"If things go well and we get faster approvals for our projects, TA Global may surpass the RM93 million in fiscal 2011," she said at the launch of TA Global's prospectus in Kuala Lumpur yesterday.

TA Global is due to list on the Main Market of Bursa Malaysia on November 23.

Its parent, TA Enterprise Bhd (TAE) is looking to raise RM230 million from the listing.

Tiah, who is TAE co-founder and managing director, said it will use the proceeds to pare down debt and for working capital to expand its financial services.

TAE folded all its property assets into TA Global to "unlock the hidden value".

The initial public offering entails 460 million ordinary shares of RM0.50 each at an offer price of RM0.50 apiece.

It will offer 360 million shares for private placement to selected Bumiputera institutions and investors, and 90 million shares to Bumiputera citizens, companies, societies, cooperatives and institutions by way of balloting.

Some 10 million shares will be issued to eligible directors and employees of the company.

TAE will retain a 57 per cent stake in TA Global after the listing, while TA Global executive chairman Datuk Tony Tiah Thee Kian will hold 8.1 per cent.

In addition, TA Global, which has total assets valued at RM2.4 billion, will raise RM135 million via a rights issue.

Proceeds from the rights issue will be used to renovate its Aava Whistler Hotel in Canada, acquire more assets and undertake new developments.

[nazrey]

NEW Proposal!

http://img251.imageshack.us/img251/5358/41451219.jpg